000			01582nam a22001577a 4500
999			_c522297 _d522297
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100			_aTrinh, Khoa A. et al _939278
245			_aWhy did they not borrow? Debt-averse farmers in rural Vietnam
260			_aThe Developing Economics
300			_a60(4), Dec, 2022: p. 228-260
520			_aNonborrowers are defined as debt averse if they have never borrowed in the past and prefer avoiding debt in the future, even when offered generous borrowing terms such as zero interest rates, zero collateral, and easy debt-forgiveness. Other nonborrower types have either borrowed in the past or are open to doing so in the future. To better understand nonborrowing behavior, credit preference types (CPTs) were measured among 575 low-income farmers in Mekong Delta, Vietnam. Among 208 current nonborrowers, 156 had never borrowed and only seven were credit rationed. Among never-borrowers, 102 were debt-averse. Thus, more than half of eligible nonborrowers (102 out of 201) were debt averse. This high prevalence challenges the assumption of unmet credit demand among the poor. Disaggregating CPTs reveals heterogeneity among nonborrowers that would remain observationally equivalent otherwise. We report reasons for not borrowing and investigate how observable characteristics influence the likelihood of debt aversion.- Reproduced
650			_aNonborrower, Nonborrowing, Behavior, Debt aversion, Reasons for homewing, Credit preference types. _937106
773			_aThe Developing Economics
906			_aFARMERS
942			_cAR